Use Apples financial statements in Appendix A to answer the following. 1. What is the amount of

Question:

Use Apple’s financial statements in Appendix A to answer the following.

1. What is the amount of Apple’s accounts receivable as of September 24, 2016?

2. Compute Apple’s accounts receivable turnover as of September 24, 2016.

3. How long does it take, on average, for the company to collect receivables for the fiscal year ended September 24, 2016?

4. Apple’s most liquid assets include (a) cash and cash equivalents, (b) short-term marketable securities, (c) accounts receivable, and (d) inventory. Compute the percentage that these liquid assets (in total) make up of current liabilities as of September 24, 2016, and as of September 26, 2015.

5. Did Apple’s liquid assets as a percentage of current liabilities improve or worsen as of its fiscal 2016 year-end compared to its fiscal 2015 year-end?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...

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